Prepaid Money Card v.s. any bank debit card??

XBGMER · 12-26-2007, 11:22 AM

From MarketWatch

Quote:

"The card, which the retail giant is calling the Wal-Mart MoneyCard, can be loaded with paychecks, direct deposit or cash... They will be immediately accessible and can be used at all locations where Visa is accepted and at automated teller machines... All money loaded onto the cards will be FDIC-insured... The cards will cost $8.95 and will not carry any fees to load or to withdraw cash or check cash balances... Customers will be able to use them as if they were credit cards to charge merchandise, pay bills, buy gasoline and shop online... Bentonville, Ark.-based Wal-Mart said the card will be rolled out to about 1,300 Wal-Mart stores by the end of June and to another 1,300 by the end of July. By year's end, the card will be available on a nationwide basis in the retailer's roughly 4,000 stores."

In response to the followup comments on this post:

Actually I thought the Moneycard might be huge spotlight market in event!

In future Will people use prepaid money card over bank debit card?

It is more convenient than constantly pulling cash out of an ATM to pay for these kinds of purchases; conversely some of us don't feel like cluttering up our bank statements (traditional debit card) or credit card statements with these kinds of minor transactions.

I would use this for back up, or low purchase transactions, for example fast food places.

Or

People don't have own bank account or have bad accounting bank.

Or

this moneycard is offers for deaf community.
for example, deaf roomies who live in apt, one stole their money cash. it cause them problems and blames eachothers. therefore, the prepaid moneycard is your saviour! its for thief-free/hassle-free!

what is your opinion of this Prepaid money card over bank debit card?

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